Members secure improved pay at NAB

In late September NAB announced their intention to commence bargaining for a new Enterprise Agreement early next year.

However, committed to provide salary increases for Group 1 & 2 employees on time in January 2022, NAB agreed that Union members would get a collective voice at the table to discuss and influence this decision.

In preparation of discussions with NAB the Union asked members what their expectations of remuneration were, of the 1100 responses we received:

  • 98% agreed that salary needed to stay above cost of living and be in line with other major competitors
  • 87% agreed that salary increases should be 3% or above

Improved position from NAB

Since then, Union Representatives have met with NAB to discuss their approach and proposal.

The first proposal presented fell below member expectations. Members have said that this has been one of, if not the, hardest year in memory and pay needed to reflect that. This feedback was given to NAB and we outlined where our members expectations were for their pay increase.

After further constructive dialogue with Senior Executives listening to the workload intensification and COVID related challenges colleagues have faced across the Bank, NAB have revised their position announcing today for Group 1 and 2 colleagues;

  • 3% increase for colleagues on less than $95,000 and
  • 2% increase for colleagues on above $95,000
  • 0.5% superannuation increase above salary increases, to take effect in July 2022

While we don’t believe that having a two-tier system is appropriate into the future, this is a substantially improved position from the first discussion with NAB and reflects the power of having a strong collective union voice at the table.

Formal Negotiations commence in February

Securing a fair and respectful pay outcome for January has been important to provide immediate certainty to thousands of workers. However, what is now needed is a new agreement that secures and improves conditions for all NAB colleagues.

Formal negotiations will commence in February and the Union will shortly be launching our campaign for a new industry leading Agreement. Keep an eye out for more details in the coming weeks.

If you want to get involved in helping build this campaign in your workplace, email and one of our team will be in touch with further details.

Authorised by Julia Angrisano, National Secretary